China’s domestic stainless steel prices have declined during the past week.
Global nickel prices have showed an upward trend during the past week. On March 1, the three-month nickel price at the London Metal Exchange (LME) closed at $25,350/mt, while LME nickel inventory on the same date totaled 79,524 mt.
Overall trading activity in the domestic stainless steel market has fallen sharply and is currently sluggish. Market inventory has continued to increase since production volumes are at high levels. Stainless futures prices have declined, also causing the spot market to move down. As for the week ahead, it is believed that stainless steel prices may continue to decline.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,250 |
2,407 |
-250 |
-41 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,400 |
1,642 |
-300 |
-48 |
304/2B (1.0 x 1,219 x C) |
Taigang |
20,100 |
3,173 |
-600 |
-97 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
19,700 |
3,110 |
-900 |
-144 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,500 |
1,500 |
-100 |
-17 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
8,700 |
1,373 |
-500 |
-80 |
13 percent VAT is included in the above prices.
$1 = RMB 6.335
